MIRA INFORM REPORT

Report Date :

10.09.2014

IDENTIFICATION DETAILS

Name :	EVEREST LABORATORIES PRIVATE LIMITED [w.e.f.07.07.2014]

Formerly Known As :	PARSHVANATH BRICKS INDIA PRIVATE LIMITED

Registered Office :	22, S-42, Ashok Udyan, Opposite Keshav Nagar, Jodhpur – 342001 Rajasthan

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	31.07.2013

Com. Reg. No.:	17-043380

Capital Investment / Paid-up Capital :	Rs. 0.100 Million

CIN No.: [Company Identification No.]	U24239RJ2013PTC043380

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Pharma Products.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Company

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a new company and yet to establish itself gradually. Ms. Dipu Baldha, Director provided all information and also informed that their factory is under construction and their work will be completed by November 2014 and after the completion of work the company will commenced its operation. The company has recorded some pre-operative expenses which have resulted into accumulated losses during FY 2014. Payment terms are unknown. The company can be considered for business dealings on a fully safe and secured trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years. China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes that many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies. A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Ms. Dipu Baldha
Designation :	Director
Contact No.:	91-9979965516
Date :	06.09.2014

LOCATIONS

Registered Office :	22, S-42, Ashok Udyan, Opposite Keshav Nagar, Jodhpur – 342001 Rajasthan, India
Tel. No.:	Not Available
Mobile No.:	91-9979965516 [Ms. Dipu Baldha]
Fax No.:	Not Available
E-Mail :	neelambhandari00@gmail.com everestlaboratories1@gmail.com
Area :	1000 Sq. ft.
Location :	Owned

Corporate Office :	305, Crystal Arcade, Near Navrangpura Tele. Exchange, C.G. Road, Ahmedabad, Gujarat, India
Area :	580 Sq. ft.
Location :	Owned

Factory :	SPL, Plot No. 5, RIICO Growth Centre, Phase 2, Village Abu Road, Shirohi, Rajasthan, India
Area :	19673 Sq. mtr.
Location :	Leased

DIRECTORS

AS ON 01.07.2014

Name :

Mr. Mohnish Golechha

Designation :

Director

Address :

25, Vikas Colony, Paota C Road, Jodhpur - 342001, Rajasthan, India

Date of Birth/Age :

22.07.1993

Date of Appointment :

20.11.2013

DIN No.:

06379249

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U45201RJ2012PTC037711	DARSHAN DREAM DEVELOPERS PRIVATE LIMITED	Director	12/09/2012	12/09/2012	Active	NO
2	U24239RJ2013PTC043380	EVEREST LABORATORIES PRIVATE LIMITED	Director	20/11/2013	20/11/2013	Active	NO

Name :

Mr. Sandeep Lakhpatraj Mehta

Designation :

Director

Address :

40 B, Old Public Park Road, Umed Club Road, Raika Bag, Jodhpur - 342001, Rajasthan, India

Date of Appointment :

31.07.2013

DIN No.:

06644024

Name :

Mr. Santosh Golechha

Designation :

Director

Address :

P. No. 25, Vikas Colony, Paota C Road, Jodhpur - 342001, Rajasthan, India

Date of Birth/Age :

05.04.1970

Date of Appointment :

17.02.2014

DIN No.:

06766485

Name :

Mrs. Gayatri Sanjay Pandey

Designation :

Additional director

Address :

48.1, Bima Nagar, Satelite Road, Ahmedabad - 380015, Gujarat, India

Date of Birth/Age :

10.06.1966

Date of Appointment :

07.07.2014

DIN No.:

01500927

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U92113DL2004PTC128772	CARAVAN AUDIO VISUALS PRIVATE LIMITED	Director	02/09/2004	02/09/2004	Active	YES
2	U24239RJ2013PTC043380	EVEREST LABORATORIES PRIVATE LIMITED	Additional director	07/07/2014	07/07/2014	Active	NO

Name :

Mr. Mihir Mahendrabhai Patel

Designation :

Additional director

Address :

1.C D, Shyam Gokul Apartments, Drive-In Road, Navrangpura,, Ahmedabad - 380009, Gujarat, India

Date of Birth/Age :

13.11.1967

Date of Appointment :

07.07.2014

DIN No.:

02090412

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L24231GJ1993PLC019079	RELISH PHARMACEUTICALS LIMITED	Director	13/09/1993	13/09/1993	16/06/2014	Active	NO
2	U24239RJ2013PTC043380	EVEREST LABORATORIES PRIVATE LIMITED	Additional director	07/07/2014	07/07/2014	-	Active	NO

Name :

Mrs. Riddhi Mihir Patel

Designation :

Additional director

Address :

Shyam Gokul Apartment, Near Vijay Restaurrant Vijay Char Rasta, Navran, Ahmedabad - 380009, Gujarat, India

Date of Birth/Age :

15.10.1967

Date of Appointment :

07.07.2014

DIN No.:

02101787

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L24231GJ1993PLC019079	RELISH PHARMACEUTICALS LIMITED	Director	13/09/1993	13/09/1993	16/06/2014	Active	NO
2	U24239RJ2013PTC043380	EVEREST LABORATORIES PRIVATE LIMITED	Additional director	07/07/2014	07/07/2014	-	Active	NO

Name :

Mrs. Dipu Maganlal Baldha

Designation :

Additional director

Address :

25, Rushikesh Bunglows, Opposite Smruti Mandir, Ghodasar, Ahmedabad - 380050, Gujarat, India

Date of Birth/Age :

18.07.1982

Date of Appointment :

07.07.2014

DIN No.:

03475869

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U51900GJ2011PTC064809	MANASWINI EXIMS PRIVATE LIMITED	Director	06/04/2011	06/04/2011	Active	NO
2	U24239RJ2013PTC043380	EVEREST LABORATORIES PRIVATE LIMITED	Additional director	07/07/2014	07/07/2014	Active	NO

Name :

Ms. Januja D Joshi

Designation :

Additional director

Address :

48.1, Bimanagar, Satellite Road, Satellite, Ahmedabad - 380015, Gujarat, India

Date of Birth/Age :

29.08.1993

Date of Appointment :

07.07.2014

DIN No.:

05287697

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U51900GJ2011PTC064809	MANASWINI EXIMS PRIVATE LIMITED	Director	01/04/2012	01/04/2012	Active	NO
2	U24239RJ2013PTC043380	EVEREST LABORATORIES PRIVATE LIMITED	Additional director	07/07/2014	07/07/2014	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 01.07.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Mohnish Golechha	3000	30.00
Sandeep Lakhpatraj Mehta	7000	70.00

Total	10000	100.00

AS ON 01.07.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Pharma Products.

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Bank of India

Paldi Branch, Ahmedabad, Gujarat, India


Banking Relations :	--

Auditors :
Name :	A R Sanchety and Company Chartered Accountants
Address :	A-102, Aanchal Complex, Residency Road, Jodhpur – 342003, Rajasthan, India
Income-tax PAN of auditor or auditor's firm :	ALRPS8228E

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS			31.07.2013 to 31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital			0.100
(b) Reserves & Surplus			(0.025)
(c) Money received against share warrants			0.000

(2) Share Application money pending allotment			0.000
Total Shareholders’ Funds (1) + (2)			0.075

(3) Non-Current Liabilities
(a) long-term borrowings			6.336
(b) Deferred tax liabilities (Net)			0.000
(c) Other long term liabilities			0.000
(d) long-term provisions			0.000
Total Non-current Liabilities (3)			6.336

(4) Current Liabilities
(a) Short term borrowings			0.000
(b) Trade payables			0.000
(c) Other current liabilities			0.000
(d) Short-term provisions			0.000
Total Current Liabilities (4)			0.000

TOTAL			6.411

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets			6.061
(ii) Intangible Assets			0.000
(iii) Capital work-in-progress			0.000
(iv) Intangible assets under development			0.000
(b) Non-current Investments			0.000
(c) Deferred tax assets (net)			0.000
(d) Long-term Loan and Advances			0.000
(e) Other Non-current assets			0.043
Total Non-Current Assets			6.104

(2) Current assets
(a) Current investments			0.000
(b) Inventories			0.000
(c) Trade receivables			0.000
(d) Cash and cash equivalents			0.307
(e) Short-term loans and advances			0.000
(f) Other current assets			0.000
Total Current Assets			0.307

TOTAL			6.411

KEY RATIOS

PARTICULARS				31.07.2013 to 31.03.2014
Debt Equity Ratio (Total Debt/Networth)				84.48

Current Ratio (Current Asset/Current Liability)				0.00

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one year	Yes
12]	Profitability for last one year	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

------------------------------------------------------------------------------------------------------------------------------

UNSECURED LOANS

UNSECURED LOANS	31.03.2014 (Rs. In Millions)
LONG-TERM BORROWINGS
Loans from Directors and Shareholders	6.336

Total	6.336

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

MRS. GAYATRI JOSHI

(RS. IN MILLIONS)

LIABILITIES	31.03.2014	ASSETS	31.03.2014

Capital Means	2.041	Investment in Business	1.016
		Gold and Silver	0.900
		Cash and Bank	0.125

Total	2.041	Total	2.041

NET WORTH

Rs. 2.041 Millions

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

MR. MIHIR PATEL

(RS. IN MILLIONS)

LIABILITIES	31.03.2014	ASSETS	31.03.2014

Capital Means	5.018	House *	4.000
		Car	1.000
ICICI Car Loan	0.207	Cash and bank	0.075
		LIC	0.150

Total	5.225	Total	5.225

* 1CD, Shyam Gokul Apartment, Drive in Road, Ahmedabad, 1/2 Share as value certify by the borrower.

NET WORTH

Rs. 5.018 Millions

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

MRS. RIDDHI PATEL

(RS. IN MILLIONS)

LIABILITIES	31.03.2014	ASSETS	31.03.2014

Capital Means	1.375	Car Elantra	0.250
		Gold and Silver	0.900
		LIC	0.050
		Cash and Bank	0.175

Total	1.375	Total	1.375

NET WORTH

Rs. 1.375 Millions

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

MS. DIPU BALDHA

(RS. IN MILLIONS)

LIABILITIES	02.08.2014	ASSETS	02.08.2014

Capital Means	8.227	Investment in Jay Kay Int.	2.212
		Car	0.500
Unsecured Loan	5.000	ESPI-Philippines	10.400
HDFC Car Loan	0.006	Gold and Silver	0.120
NNSB Personal Loan	0.148	Cash and Bank	0.149
		LIC	0.195

Total	13.381	Total	13.576

NET WORTH

Rs. 8.227 Millions

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

MS. JANUJA DIPAK JOSHI

(RS. IN MILLIONS)

LIABILITIES	02.08.2014	ASSETS	02.08.2014

Capital Means	7.148	Investment in Jay Kay Int.	2.443
		Car	0.925
Unsecured Loan	6.585	PPF	0.250
NNSB Car Loan	0.721	Gold and Silver	0.335
		Cash and Bank	0.146
		Investment in Radhe	10.000
		LIC and PPF	0.355

Total	14.454	Total	14.454

NET WORTH

Rs. 7.148 Millions

------------------------------------------------------------------------------------------------------------------------------

VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made

For Bank mortgage Paldi Branch Ahmedabad

Date as on which valuation is made

11.08.2014

Name of the Owner/ Owners

M/s Everest Laboratories Private Limited

It the property is under Joint Ownership/ Co Ownership Share of each such owners are the shares undivided?

Single Ownership

Brief description of the property

Open Industrial Plot

Location, Street, Ward No.

At Plot No. SPL-5, RIICO Growth Center

Survey/Plot No. of land

Phase 2, Industrial Maval, Abu Road, Sirohi, Rajasthan, India

Is the property situated in the Residential/ Commercial/ Mixed Area/ Industrial Area

Industrial Area

Classification of Locality – High class/ Middle Class/ Poor class

Middle Class

Proximity to civic amenities like School, Hospitals, cinema etc.

All Amenities are available within 10.0 km.

LAND

Means and Proximity to surface communication by which the locality is served

By own vehicle

Area of land supported by documentary proof, shape, dimensions and physical feature

19673.93 Sq. Mts.

Shape and dimension as per plan

Road, Streets or land on which the land is abutting

N.H. 14, Four Lane

Direction	Size	As per sale deed	Actual as per site condition
North	--	Plot No. SPL-2	Plot No. SPL-2
South	--	Nallah	Nallah
East	--	Plot No. SPL 3/4	Plot No. SPL 3/4
West	--	Road 30 MT wide	Road 30 MT wide

Is it freehold or leasehold land

Leasehold land

Attach a dimensioned site plan

Yes

IMPROVEMENT

Attach plans and elevations of all structures standing on the land and a layout plan

Yes

Furnish technical details of the building on a separate sheet [the annex of this form may be used]

Yes

Is the building owner Occupied/ tenanted / both? Area under owner occupation.

If party owner-occupied, specify portion and extend of area under owner occupation

Owner occupied

RENTS

If a pump is installed, who has to bear the cost of maintenance and operation owner or tenant?

Owner

Who has to bear the cost of electricity charges for lighting of common space like entrance hall, stairs, passage, compound, etc. owner or tenant

Owner

SALES

Land rate adopted in this valuation

D.L.C. rate and market rate

PART II

Owner Name :	M/s. Everest Laboratories Private Limited
Property Address :	At Plot No. SPL-5, RIICO Growth Center, Phase 2, Industrial Maval, Abu Road, Sirohi, Rajasthan, India

After personal visit to the property and taking all relevant factor in to consideration I assess the value of the above property as under:

The Basis of rates adopted are the rates of construction as per standing order No. CE(NH)PWD/EE(S&S)/BSR/D-164 Dated 24.03.2009, Issued by the Chief Engineer, P.W.D. Rajasthan, Jaipur. The necessary increase the cost index has been taken care of …………………………

TOTAL VALUE OF PROPERTY

Particulars	Area in Sq. Mts.	Rate / Sq. Mts.	Land	Building	Total
D.L.C. Value	19673.93	626	12.316	0.000	12.316

Market Value	19673.93	2000	39.348	0.000	39.348

Reliable Value	19673.93	1950	38.364	0.000	38.364

Distress Value	19673.93	1900	37.380	0.000	37.380

------------------------------------------------------------------------------------------------------------------------------

VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made

To ascertain fair market value of property for Bank loan from Bank of India, Paldi Branch.

Date as on which valuation is made

As on 16.08.2014

Name of the Owner

Mr. Deepakbhai B. Joshi

It the property is under Joint Ownership/ Co Ownership Share of each such owners are the shares undivided?

Sole Ownership Property

Brief description of the property

It is a well-furnished corporate look twin Office in a low rise com. Complex at CG Road.

Location, Street, Ward No.

Office No. 305, 3^rd Floor, Crystal Arcade, Near Telephone Exchange Building, C.G. Road, Navrangpura, Ahmedabad

Survey/Plot No. of land

F.P. No. 327, 327/B, T.P.S. No. 3 varied Changispur, Ta-City, District Ahmedabad

Is the property situated in the Residential/ Commercial/ Mixed Area/ Industrial Area

Commercial Area

Classification of Locality – High class/ Middle Class/ Poor class

Higher - Middle Class

Proximity to civic amenities like School, Hospitals, cinema etc.

Available within nearby distance

Means and Proximity to surface communication by which the locality is served

Served by AMTS bus services, Scooters, Auto rickshaws etc.

LAND

Area of land supported by documentary proof, shape, dimensions and physical feature

NA as Composite Method is Adopted including undivided shares of land

Roads street or lanes on which the land is abutting

On T.P. Road (C.G. Road)

Is it freehold or leasehold land

Freehold Land

Are there any agreements of easements? If so Attach Copies

No.

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Demands not outstanding

Attach a dimensioned site plan

Yes Plans are approved by AMC vide Case No. R/BNB/WZ/9/2000/826

CC No. WZ/10/04 Dated 18.07.2003.

No. 22 1995-96 Chithhi No. AMC Ward-Municipal Market – 0515, Type of asset Non resi-Com. Office usage Code – 0183, Age of asset 08 years.

Self-occupancy, Torrent Power service No. 100140822 connected load 6.00 NRGP Type. Crystal Square Com. Cooperative Society Limited.

Reg. No. GH-3899 Date 10.03.1971

Share Certificate No. 47, Share No. 231-235 issued to original member on date 01.04.2006.

Transferred in the name of present owner on date 03.08.2013.

IMPROVEMENTS

Attach plans and elevations of all structures standing on the land and a layout plan

Yes Plans are approved by AMC vide Case No. R/BNB/WZ/9/2000/826

CC No. WZ/10/04 Dated 18.07.2003.

No. 22 1995-96 Chithhi No. AMC Ward-Municipal Market – 0515, Type of asset Non resi-Com. Office usage Code – 0183, Age of asset 08 years.

Self-occupancy, Torrent Power service No. 100140822 connected load 6.00 NRGP Type. Crystal Square Com. Cooperative Society Limited.

Reg. No. GH-3899 Date 10.03.1971

Share Certificate No. 47, Share No. 231-235 issued to original member on date 01.04.2006.

Transferred in the name of present owner on date 03.08.2013.

Furnish technical details of the building on a separate sheet [The Annexure to this Form may be used]

Technical details are furnished

Is the building owner Occupied/ tenanted / both?

Vacant and possession with owner

What is the Floor Space Index Permissible and percentage actually utilized?

1 : 1.8

RENTS

Give details of water and electricity charges, if any to be borne by the owner

Borne by owner

If a pump is installed, who has to bear the cost of maintenance and operation owner or tenant?

Borne by owner

Who has to bear the cost of electricity charges for lighting of common space like entrance hall, stairs, passage, compound, etc. owner or tenant

Borne by owner

What is the amount of property tax? Who has to bear it? Give details with documentary proof

As per AMC Tax Bill paid by owner

Is the building insured? If so, give the Policy No. amount for which it is insured and the annual premium

Details are not produced

SALES

Give instance of sales of immovable property in the locality on the separated sheet, indicating the name and address of the property, registration No., sale price and area of land sold

Sales instances are not available

Discussed in Valuation Statement Jantri rate is Rs. 45000/- per sq. mt. and It is the guide line rate and only for collecting the stamp for registration.

It does not reflect on Market Value of the property.

Land rate adopted in this valuation or

Super built up area rate is Rs. 7000/- per sq. ft. on built up area rate basis and including fixed furniture and internal civil changes made.

If sale instances are not available or not relied

Prevailing market rate in vicinity and upon the basis of oral inquiry for arriving at fair market value rate.

COST OF CONSTRUCTION

Year of commencement of construction and year of completion

It is built in 2005.

What was the method of construction by contract/ by employing labour directly/both?

By Organizers

(TECHNICAL DETAILS)

No of floors and height of each floor

- Basement

- Ground Floor

- First Floor

- Second Floor

- Third Floor

Office is situated on 3^rd Floor

9’-0”

Plinth area –floor wise [As per IS 3861-1966]

- Basement

- Ground Floor

- First Floor

- Second Floor

- Third Floor

548 Sq. ft. [50.91 Sq. mts. Area as per allotment letter of Society.]

Year of Construction

It is built in about 2005.

Estimated future life

60 Years with regular and preventive maintenance.

Type of construction Load bearing walls/ RCC frame/ steel frame structure

RCC Frame Structure

Type of foundations

RCC Footings

Walls:

- Basement and Plinth

- Ground Floor

1’-2”, 0’-9”, 0’-6” Thick brick masonry walls in cement mortar.

Partitions

- Basement

- Ground Floor

- First Floor

- Second Floor

- Fifth Floor

0’-6” Thick brick masonry walls in cement mortar.

Flooring (Floor-wise)

- Basement

- Ground Floor

- First Floor

- Second Floor

- Fifth Floor

Vitrified Ceramic tiles flooring and Granite top cooking platform

Door and Windows

- Ground Floor

- First Floor

- Second Floor

- Fifth Floor

Wooden Door with wooden frame and fully glazed wooden windows with wooden frame.

Finishing (Floor Wise)

- Basement

- Ground Floor

- First Floor

- Second Floor

- Fifth Floor

Smooth cement plaster to interior walls with good quality of paints and double coat sand face plaster to exterior walls with good quality of paints.

Roofing and Terracing

RCC slab

Special architectural or decorative features, if any

Aesthetic outlook

1) Internal Wiring – Surface or Conduit

2) Class of fitting. Superior/ Ordinary/ Poor

Concealed copper electrical wiring with sufficient light and plug points.

Sanitary Installations

- No. of water closets

- No. of lavatory basins

- No. of urinals

- No. of sinks

- No. of bath tubs

- No. of bidets

- No. of geysers

Class of fittings Superior Colored/ Superior white/ ordinary

Good quality of fittings are used.

Compound Wall

- Height and Length

- Type of construction

Common compound wall with m.s. gate

Underground pump capacity and type of construction

Common underground water tank

Overhead Tanks

- Where located

- Capacity

- Type of construction

Common over hear water tank

Pump No and their horse power

Common water connection

Roads and paving with in the Compound

Paved hollow plinth and marginal land for parking

Sewage Disposal/ Whether connected to public sewer. If septic tanks provide (No and Capacity)

Connected to public sewer line.

PART II

The Property under consideration is a Com. Office situated on 3^rd Floor of five [G + 4] storied R.C.C. frame structure building with marginal land for parking. [As per approved plan 3^rd Floor], Crystal Arcade, Near Telephone Exchange Building, C.G. Road, Navrangpura, Ahmedabad bearing F.P. No. 327, 327/B, T.P.S. No. 3 varied of Changispur – Navrangpura. It is owned by Mr. Deepakbhai B. Joshi

I visited the property on 16.08.2014 for the purpose of valuation. The observations and scrutinizers made are as under. During my visit one of owner’s wife was remained present and furnished relevant date regarding the property.

The property is to evaluated to ascertain Fair market value of property for bank loan from Bank of India, Paldi Branch.

The property is situated at developed active commercial area of Navrangpura, C.G. Road heart of city Ahmedabad. All types of commercial complexes like shops, showrooms, Offices multiplex, shopping malls, corporate houses, etc. are constructed near this area. All infrastructure like hospitals, temples, garden, AMTS Bus stand, schools, petrol pumps, collages, police chauky, etc. are developed in surrounding area.

Property is a commercial office twin. It is having two chambers, one account department, front big reception area, pantry with platform, attached toilet block, full height glass-wooden partition cubical, sofa set, etc. It is provided with Verified ceramic tiles flooring, granite top cooking platform, wooden doors with granite frame and fully glazed wooden windows with Granite top cooking platform, wooden doors etc. It is finished with smooth cement plaster to interior walls with good color and double coat sand face plaster to exterior wall with good snowcem. It is also provided with common amenities like lift, cellar-hollow plinth and marginal land for parking, compound wall, paved compound and margin, underground and overhead water tank, street light connection, water and drainage connection etc.

Remark: There are two entries in form of M.S. Rolling shutters and both are operated

It is surrounded by following boundaries:

North : Passage-Stair

South : BSNL Building

East : Office No. 304-CG Road

West : Office No. 306.

I evaluate this property as per composite rate method with considering Built up area and common amenities.

BUILDING VALUE:

Considering the type of construction, planning and design, age and future life of property, Depreciation, maintenance and renovation of property, specification and materials used there in and amenities available and property use, I estimate the valuation of property as under on valuation date.

Sr. No.	Description	Super Built up area in Sq. ft.	Rate per sq. ft. in Rs.	Total Value in Rs. in Millions

1.	Office 305, 3^rd Floor, Crystal Arcade, C.G. Road, Ahmedabad with fix furniture and fitting like wooden glass partition, cubicals pantry, good interiors, etc.	548 Sq. ft.	Rs. 7000/-	Rs. 3.836 Millions

So I estimate market value of above said property owned by Mr. Deepakbhai B. Joshi for Rs. 3.836 Millions on valuation date.

Market Value	Rs. 3.836 Millions
Realization Value	Rs. 3.452 Millions [about 10% less]
Distress sale of the property	Rs. 2.685 Millions [30% less]
Jantri Price as on date	Rs. 2.290 Millions

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VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made

To ascertain fair market value of property for Bank loan from Bank of India, Paldi Branch.

Date as on which valuation is made

As on 15.08.2014

Name of the Owner

Mr. Deepakbhai B. Joshi

Mrs. Rashmiben D. Joshi

It the property is under Joint Ownership/ Co Ownership Share of each such owner.

Joint Ownership Property

Brief description of the property

It is a new bungalow almost construction is finished stage at New Alkapuri Road ahead of Gotri Road, Baroda.

Location, Street, Ward No.

House No. B-01, Radhe Residency, Near Pancham, Pushp-New Alkapuri, Baroda.

Survey/Plot No. of land

Survey No. 104, C.S. No. 2773, Mouje: Gotri, Ta-Vadodara, District Vadodara, Gotri-Zone-04, bmc Raja chithi No. UDA/PLAN/335/WARD-10/11 Date 09.09.2000 and 18.03.2013,

VUDA Zoning certificate 3676 date 29.09.2008, resi. Zone R-1, NA Order Date 23.02.2001.

Is the property situated in the Residential/ Commercial/ Mixed Area/ Industrial Area

Residential Area

Classification of Locality – High class/ Middle Class/ Poor class

Higher - Middle Class

Proximity to civic amenities like School, Hospitals, cinema etc.

Available within nearby distance

Means and Proximity to surface communication by which the locality is served

Served by AMTS bus services, Scooters, Auto rickshaws etc.

LAND

Area of land supported by documentary proof, shape, dimensions and physical feature

329 SYD

Roads street or lanes on which the land is abutting

On T.P. Road

Is it freehold or leasehold land

Freehold Land

Are there any agreements of easements? If so Attach Copies

No.

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Demands not outstanding

Attach a dimensioned site plan

Yes Plans are approved by BMC.

IMPROVEMENTS

Attach plans and elevations of all structures standing on the land and a layout plan

Yes Plans are approved by BMC.

Furnish technical details of the building on a separate sheet [The Annexure to this Form may be used]

Technical details are furnished

Is the building owner Occupied/ tenanted / both?

Owner Occupied

What is the Floor Space Index Permissible and percentage actually utilized?

1 : 1.8

RENTS

Give details of water and electricity charges, if any to be borne by the owner

Borne by owner

If a pump is installed, who has to bear the cost of maintenance and operation owner or tenant?

Borne by owner

Who has to bear the cost of electricity charges for lighting of common space like entrance hall, stairs, passage, compound, etc. owner or tenant

Borne by owner

What is the amount of property tax? Who has to bear it? Give details with documentary proof

As per BMC Tax Bill paid by owner. As new one so YET NOT RAISED.

Is the building insured? If so, give the Policy No. amount for which it is insured and the annual premium

Details are not produced

SALES

Give instance of sales of immovable property in the locality on the separated sheet, indicating the name and address of the property, registration No., sale price and area of land sold

Sales instances are not available

Discussed in Valuation Statement Jantri rate is Rs. 12250/- per sq. mt. for land and It is the guide line rate and only for collecting the stamp duty for registration.

It does not reflect on Market Value of the property.

Land rate adopted in this valuation or

Super built up area rate is Rs. 35000/- per SYD. On net plot area basis including land development cost like earth filling, leveling, paving in compound wall, m.s. gate and active used in residential scheme etc.

If sale instances are not available or not relied

Prevailing market rate in vicinity and upon the basis of oral inquiry for arriving at fair market value rate.

COST OF CONSTRUCTION

Year of commencement of construction and year of completion

It is built in 2012-14.

What was the method of construction by contract/ by employing labour directly/both?

By Organizers

(TECHNICAL DETAILS)

No of floors and height of each floor

- Basement

- Ground Floor

- First Floor

- Second Floor

- Third Floor

GF-FF-SF

3 storied structure 9’-5” height of each floor

Plinth area –floor wise [As per IS 3861-1966]

- Basement

- Ground Floor

- First Floor

- Second Floor

- Third Floor

Gross Construction Area 236 SYD allotment letter of Society.

Year of Construction

It is built in about 2012-2014.

Estimated future life

60 Years with regular and preventive maintenance.

Type of construction Load bearing walls/ RCC frame/ steel frame structure

RCC Frame Structure

Type of foundations

RCC Footings

Walls:

- Basement and Plinth

- Ground Floor

- Superstructure above

1’-2”, 0’-9”, 0’-6” Thick brick masonry walls in cement mortar.

Partitions

- Basement

- Ground Floor

- First Floor

- Second Floor

- Fifth Floor

0’-6” Thick brick masonry walls in cement mortar.

Flooring (Floor-wise)

- Basement

- Ground Floor

- First Floor

- Second Floor

- Fifth Floor

Vitrified Ceramic tiles flooring and Granite top cooking platform

Door and Windows

- Ground Floor

- First Floor

- Second Floor

- Fifth Floor

Wooden Door with wooden frame and fully glazed wooden windows with wooden frame.

Finishing (Floor Wise)

- Basement

- Ground Floor

- First Floor

- Second Floor

- Fifth Floor

Smooth cement plaster to interior walls with good quality of paints and double coat sand face plaster to exterior walls with good quality of paints.

Roofing and Terracing

RCC slab

Special architectural or decorative features, if any

May be Aesthetic outlook after completion of total work as very good elevation.

- Internal Wiring – Surface or Conduit

- Class of fitting. Superior/ Ordinary/ Poor

Concealed copper electrical wiring with sufficient light and plug points – work is to be provided

Sanitary Installations

- No. of water closets

- No. of lavatory basins

- No. of urinals

- No. of sinks

- No. of bath tubs

- No. of bidets

- No. of geysers

Class of fittings Superior Colored/ Superior white/ ordinary

Good quality of fittings are used.

Compound Wall

- Height and Length

- Type of construction

Common compound wall with m.s. gate

Underground pump capacity and type of construction

Common underground water tank

Overhead Tanks

- Where located

- Capacity

- Type of construction

Common over hear water tank

Pump No and their horse power

Common water connection

Roads and paving with in the Compound

Paved hollow plinth and marginal land for parking

Sewage Disposal/ Whether connected to public sewer. If septic tanks provide (No and Capacity)

Connected to public sewer line.

PART II

The Property under consideration is a Luxurious Residential Bungalow under construction stage and approx. 85% work is over. It is situated on New Alkapuri Area near Pancham Push Scheme. It is at Gotri on Gotri Road. It is owned by Mr. Deepakbhai B. Joshi and Mrs. Rashmiben D. Joshi [Subject to legal title report].

I visited the property on 15.08.2014 for the purpose of valuation. The observations and scrutinizers made are as under. During my visit one of owner’s representative was remained present and furnished relevant date regarding the property.

The property is to evaluated to ascertain Fair market value of property for bank loan from Bank of India, Paldi Branch.

The property is situated at developed active upper middle class area of Baroda. After saturation in Alkapuri area, New Alkapuri Area on Gotri Road has been developed rapidly. There are 4 track roads, many luxurious bungalows and tower schemes, Hotels, Hospitals, bank and other required service providers in this area and it is one of the most rapidly developed area of Baroda City.

Remark: As per inquiry to the developer of said scheme the rate of one unit bungalow having about same land area and same construction area is sold at Rs. 14.500 Millions to Rs. 15.000 millions including all expenses like GEB charges, BMC charges for water and Drainage connection, Legal charges, Maintenance charges etc. so they considering accordingly etc.

It is surrounded by following boundaries:

North : 18 meter TP Road

South : Bungalow No. 02.

East : 7.5 Meter Society Road

West : Pancham Pushp Scheme

I evaluate this property as per composite rate method with considering Built up area and common amenities.

LAND

Area

329 SYD

Rate Adopted

Rs. 35000 per SYD

Land Valuation

Rs. 35000 x 329 SYD

Rs. 11.515 Millions

It includes society common amenities as per broucher.

Construction

GF+FF+STAIR CABIN

Total built up area 236 SYD

Construction rate on its completion is Rs. 15000/- per SYD.

Construction Valuation = Rs. 15000 per SYD x 236 SYD = Rs. 3.540 Millions after completion of total construction work [at present 85% work is completed so construction cost is 85% of Rs. 3.540 Millions = Rs. 3.009 Millions. Say Rs. 3.000 Millions as on date for construction part only]

TOTAL VALUATION

Land	Rs. 11.515 Millions
Construction	Rs. 3.540 Millions

Total	Rs. 15.055 Millions Say Rs. 15.000 Millions [After completion of total construction work]

So, I estimate market value of above said property owned by Mr. Deepakbhai B. Joshi and Mrs. Rashmiben D. Joshi for Rs. 15.000 Millions on valuation date.

Market Value	Rs. 15.000 Millions [after completion of total construction work]
Realization Value	Rs. 13.500 Millions [about 10% less]
Distress sale of the property	Rs. 10.500 Millions [30 % less]
Jantri Price as on date	Rs. 12500/- per Sq. Mts. for land

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INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

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CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 60.43
UK Pound	1	Rs. 97.25
Euro	1	Rs. 77.93

INFORMATION DETAILS

Information Gathered by :	HNA

Analysis Done by :	DIV

Report Prepared by :	BVA

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

Unit